Real estate firm RE/Max Commercial says that Kelowna, B.C., and Edmonton are both expected to see positive commercial growth in the coming months as a result of cannabis legalization.

Prices for commercial real estate in the southern B.C. city are anticipated to see an uptick, as approval for cannabis retail licences will be “extremely competitive” amid high demand once the substance becomes available.

Kelowna, which is located in the Okanagan Valley, has already identified more than 900 potential zoned sites for dispensaries.

New construction, particularly in the Leduc and Nisku areas of the city, has been burgeoning amid the addition of a 74,322 square metre medical marijuana production facility and a 37,161 square metre auto parts and distribution warehouse from Ford Canada.

“Cannabis is adding an additional demand segment to the overall market, for industrial or retail,” said Elton Ash, regional executive vice-president at RE/MAX of Western Canada on Wednesday.